TPK Holding Co., Ltd.

TPK Holding Co., Ltd.
上 市 法 人 說 明 會
101 年 第 二 季 營 運 成 果 法 人 說 明 會
99 年 10 月 28 日
2012 年 8 月 9 日

Disclaimer Statement
This presentation and release may contain ‘forward-looking statements’ which may include
projections on future results of operations, financial condition and business prospects based on
our own information and other sources.
The actual results of operations, financial condition and business prospects may differ from those
explicitly or implicitly indicated in those forward-looking statements for a variety of reasons,
including but not limited to market demand, price fluctuations, competition, supply chain issues,
global economic conditions, exchange rate fluctuation and other risks and factors beyond TPK’s
controls.
The forward-looking statements in this presentation, if any, only reflect the current view of TPK
Holding Co., Ltd. as of the date of its release. TPK undertakes no obligation to update those
forward-looking statements for events or circumstances that occur subsequently.
1

Disclosure Notice ( 原 則 公 告 )
• Financial numbers in this presentation are based on the
Statement of Financial Accounting Standard No. 7
• All financial numbers are unaudited
• 財 務 數 字 乃 根 據 財 務 會 計 準 則 公 報 第 七 號 編 製
• 所 有 財 務 數 字 均 為 本 公 司 自 結 數
2

2Q12 Result Summary ( 營 運 簡 報 )
‣ Q2 business in line with original expectation
QoQ profit growth despite sequential revenue decline
• Revenue of NT$36,081 mn, down 10.9% QoQ
• OM of 10.6%, up from 8.9% in 1Q12
• Net profits of NT$2,943 mn, up 12.1% QoQ
• EPS of NT$9.24, up from NT$8.27 in 1Q12
• 1H12 EPS of NT$17.51
‣ Focus on product mix to increase profitability
‣ Extensive tablet & NB/Ultrabook production ramp-ups in 2H12
‣ True vertical integration to enable Single Glass Solutions
TOL, OGS and G1F are MP ready for customized specifications
3

LFF Single Glass Solutions
10.1" Touch Display
SGS
G/G
Thickness (mm) 5.15 5.85
CG 0.70 0.70
OCA - 0.20
Sensor - 0.50
OCA 0.25 0.25
LCD 4.20 4.20
Weight 190 g 240 g
Transmittance (%) 92% 90%
4

SFF Single Glass Solutions
4.3" Touch Display
SGS
G/G
Thickness (mm) 2.575 3.250
CG 0.700 0.700
OCA - 0.175
Sensor - 0.500
OCA 0.175 0.175
LCD 1.700 1.700
Weight 30 g 39 g
Transmittance (%) 92% 90%
5

P&L ( 損 益 表 ): 1Q 2012
Profit & Loss 2Q12 2Q11 YoY 1Q12 QoQ
(NT$ mn)
Revenues 36,081 32,525 10.9% 40,476 (10.9%)
COGS (30,059) (26,336) 14.1% (34,764) (13.5%)
Gross Profits 6,022 6,190 (2.7%) 5,712 5.4%
Operating Expenses (2,210) (1,463) (2,128)
SG&A (1,170) (723) (1,132)
R&D (1,040) (740) (996)
Operating Profits 3,812 4,727 (19.4%) 3,583 6.4%
Non-Op Inc/(Exp) 32 (2) (205)
Int Inc/(Exp) (23) (100) (54)
FX Gain/(Loss) 0 (168) (130)
Invest Inc/(Loss) (132) - (152)
Earnings Before Tax 3,844 4,725 (18.6%) 3,378 13.8%
Income Tax (885) (1,030) (781)
Net Income (Parent) 2,943 3,715 (20.8%) 2,624 12.1%
EPS (Parent) 9.24 11.96 (22.7%) 8.27 11.7%
Margin:
GM 16.7% 19.0% 14.1%
OM 10.6% 14.5% 8.9%
NM 8.2% 11.4% 6.5%
Op Exp (6.1%) (4.5%) (5.3%)
6

Quarterly Sales ( 季 營 收 )
NT$ mn
50,000
45,000
40,000
35,000
32,525
40,045
45,478
40,476
36,081
30,000
25,000
25,324
20,000
15,000
10,000
5,000
0
1Q11 2Q11 3Q11 4Q11 1Q12 2Q12
7

Gross Profits ( 營 業 毛 利 )
NT$ mn
8,000
20%
7,000
6,000
18.9% 19.0%
6,190
6,921
17.3%
6,303
5,712
16.7%
6,022
15%
5,000
4,779
13.9% 14.1%
4,000
10%
3,000
2,000
5%
1,000
0
1Q11 2Q11 3Q11 4Q11 1Q12 2Q12
0%
8

Operating Profits ( 營 業 利 益 )
NT$ mn
5,000
4,727
14.5%
4,627
16%
4,000
12.7%
3,207
11.6%
3,763
3,583
3,812
10.6%
12%
3,000
8.3%
8.9%
8%
2,000
1,000
4%
0
1Q11 2Q11 3Q11 4Q11 1Q12 2Q12
0%
9

Net Profits ( 稅 後 淨 利 )
NT$ mn
4,000
3,500
3,715
3,625
16%
3,000
2,500
2,000
1,500
2,470
9.8%
11.4%
9.1%
1,535
2,624
6.5%
2,943
8.2%
12%
8%
1,000
3.4%
4%
500
0
1Q11 2Q11 3Q11 4Q11 1Q12 2Q12
0%
10

Quarterly Sales by Form Factor ( 營 收 結 構 )
100%
SFF
LFF
80%
43%
49%
36%
27% 25%
41%
60%
40%
20%
57%
51%
64%
73% 75%
59%
0%
1Q11 2Q11 3Q11 4Q11 1Q12 2Q12
Note: ‘Large Form Factor’ includes screen sizes equal or larger than 7”.
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Quarterly Sales by Products ( 產 品 組 合 )
100%
Display
Module
80%
51%
63%
50%
36% 38%
53%
60%
40%
64% 62%
20%
49%
37%
50%
47%
0%
1Q11 2Q11 3Q11 4Q11 1Q12 2Q12
Note: ‘Touch Display’ consists of a touch module and a display panel.
12

Balance Sheet ( 資 產 負 債 表 )
Balance Sheet 2012/6/30 2012/3/31 2011/12/31
(NT$ mm)
Cash Equivalents 13,961 13,966 10,383
Receivables 8,680 8,599 16,906
Inventories 8,524 12,130 11,868
Current Assets 37,717 39,606 42,412
Long-term Investments
Total Fixed Assets 45,443 43,994 43,760
Total Assets 89,646 89,890 92,953
ST Loans 8,153 6,898 5,470
Payables 16,412 21,531 26,092
Current Liabilities 41,200 40,036 44,314
Convertible Bonds 10,300 10,166 10,339
LT Loans 7,702 8,158 8,806
Total Liabilities 59,322 58,470 63,591
Common Shares 3,091 2,353 2,353
Total Shareholder's Equities 30,323 31,420 29,363
Ratio Analysis:
Quick Ratio 0.71 0.69 0.69
Current Ratio 0.92 0.99 0.96
ROE 37% 35% 51%
Net Debt to Equity 0.40 0.36 0.48
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Cashflow Statement ( 現 金 流 量 表 )
Cashflow Statement 2Q12 1Q12 4Q11
(NT$ mn)
Operating Cashflows:
Net Profits 2,958 2,597 1,476
Depreciation & Amortization 1,245 1,161 1,001
Net Inc/(Dec) Working Capital (3,246) 4,001 (1,120)
Other Operating Cash Flow 2,655 539 2,348
Cash Flow from Operations 3,612 8,298 3,706
Investing Cashflows:
Capital Expenditures (2,901) (4,184) (5,035)
Acquisitions - - 40
Others (1,979) (1,458) (43)
Cash Flow from Investments (4,880) (5,642) (5,038)
Financing Cashflows:
Inc/(Dec) in Debts 326 1,161 (2,466)
Others 267 (11) (7)
Cash Flow from Financing 593 1,150 (2,473)
Cash from Acquisition 593 1,150 (2,473)
FX Adjustments 158 (223) (312)
Total Cash Flow (5) 3,583 (4,118)
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Thank you